FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 17, 1996
BROADBAND TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-21766 56-1615990
(Commission File Number) (IRS Employer Identification No.)
4024 Stirrup Creek Drive 27703
Durham, North Carolina (Zip 27703)
(Address of principal executive offices)
(919) 544-0015
(Registrant's telephone number, including area code)
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Item 5. Other Events
On May 17, 1996, the Registrant issued a press release announcing the
anticipated placement of $100 million of 5% Convertible Subordinated Notes
due May 15, 2001. The offering may be increased to $115 million under a $15
million underwriters' overallotment option.
Attached as Exhibit 99.1, and incorporated by reference herein, is the
Company's May 17, 1996 press release.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press Release dated May 17, 1996
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BOARDBAND TECHNOLOGIES, INC.
Date: May 17, 1996 By:
Salim A.L. Bhatia
President and CEO
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EXHIBIT INDEX
99.1 Press Release dated May 17, 1997
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BROADBAND TECHNOLOGIES ANNOUNCES $100 MILLION
CONVERTIBLE NOTE PLACEMENT
Research Triangle Park, N.C., May 17, 1996 -- BroadBand Technologies, Inc.
announced today the anticipated placement through underwriters of $100 million
of 5% Convertible Subordinated Notes due May 15, 2001. The offering may be
increased to $115 million under a $15 million underwriters' over-allotment
option. If the offering is completed, the Notes will be convertible into the
Company's Common Stock, at the option of the holder, at an initial conversion
price of $41.48 per share. The Nots will be redeemable, at the option of the
Company, beginning May 15, 1999.
The Notes will be sold in the U.S. to qualified institutional buyers, pursuant
to a Rule 144A exemption or to certain accredited investors and to offshore
investors, pursuant to a Rule 144A exemption or to certain accredited investors
and to offshore investors, pursuant to a Regulation S exemption. Accordingly,
neither the Notes nor the Common Stock issuable upon conversion of the Notes
has been registered under the Securities Act of 1933 and may not be offered or
sold in the United States or to U.S. persons absent registration or an
applicable exemption from the Securities Act registration requirements.
The Company intends to use the proceeds of the offering for working capital
and general business purposes.
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For more information contact:
Tim Oakley Joann Anderson
Investor Relations Press Relations
BroadBank Technologies, Inc. Copithorne & Bellows
(919) 405-4800 (617) 252-0606
[email protected] [email protected]
